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ICICI Bank acquires 8.85% stake in Avenues Payment
22 Sep 15:35

ICICI Bank has acquired 8.85% stake in Avenues Payment India (APIPL) to promote adoption of digital cross border remittance platforms for corporate and retail customers. Since the acquisition of shareholding is less than 10%, the bank does not require regulatory approval. The bank is planning to close the acquisition of shares by October 2018. Avenues Payment started operations in January 2012 and has turnover of 12.0 million and is present in India, United Kingdom and Australia. It provides a global remittance platform catering to both Business-to-Consumer (B2C) and Business-to-Business (828) market segments. ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.

NHPC to develop 40 MW solar plant in Odisha: Report
22 Sep 11:53

Hydropower generation company NHPC is reportedly planning to develop 40 MW solar plant in Odisha with an investment of about Rs 196 crore. The solar power project will come up on about 180 acres of land in the Ganjam district. Last year, the company had evinced interest for setting up a 100-200 MW solar project in Odisha.NHPC is engaged in electric power generation by hydroelectric power plants. The company is also engaged in contracts, project management and consultancy works.

ABB India undertakes an ambitious project to create a high density DFC
22 Sep 11:42

ABB India has undertaking an ambitious project to create a high density Dedicated Freight Corridor (DFC). The DFC will run between the four cities known as the Golden Quadrilateral - Delhi, Mumbai, Chennai and Kolkata - and will be developed by the Dedicated Freight Corridor Corporation of India (DFCCIL).The DFC is an ambitious infrastructure development designed to enable the efficient movement of freight containers across the vast geography of the country. It is expected to relieve congestion on commuter routes and drive industrial growth and investments in these regions. The company will play a key role by enhancing the system’s reliability with an innovative power quality solution.ABB India is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally.

RIL’s telecom arm enters into 5 year partnership with Star India
22 Sep 11:00

Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm (Jio) -- has entered into 5 year partnership with India’s leading broadcaster, Star India to unleash a new era in sports entertainment. Jio and Star will make all televised India-cricket matches available to users of JioTV and Hotstar in India. Reliance Industries signed an agreement in this regard with Star India.For the first time ever, cricket production, a streaming platform and a high-speed data network has come together to deliver the best of cricketing content with connectivity to benefit the Indian consumers. This partnership will cover T20, One Day Internationals (ODI), International Test Cricket and Premier Domestic Competitions of the BCCI.RIL is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

Tijaria Polypipes bags order worth Rs 35.30 crore
22 Sep 10:50

Tijaria Polypipes has received a single order of Rs 35.30 crore for supply of HDPE & PLB Ducts from Tata Projects. The same has to be executed within a period of 3 months. The company takes great pride in associating with one of the top most corporate brands in the world. The company`s plant (HDPE pipes) is presently running at 75 % of its installed capacity. An additional production line is being installed and will be ready by end of this month to cater to the additional robust demand of HDPE pipes.Tijaria Polypipes manufactures high grade plastic based HDPE, MDPE, LDPE, LLDPE, uPVC and PPR pipes. The Company produces pipes for the field of plastics, HDPE, sprinkler, drop irrigation, micro irrigation, telecommunications, etc.

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